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♪ ♪ imus in morning ♪ >> here it comes. a wall street rally, a big new tax and delays at the airport. good monday morning, everyone. yes, minutes from now, stocks will go up modestly. gold has already zoomed about 30 bucks an ounce. several factors involved, including the terrorist kill and capture. that big new tax is a tax on all internet sales. the details released this weekend for a senate vote today, what? talk about passing it to it find out what's in it, nancy pelosi, furloughs for air traffic contollers started yesterday. the transportation secretary says they're unavoidable. sequester delays may hit you today. "varney & company" is about to begin. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. >> good morning, everyone, sorry to tell you this, but here comes maximum pain. air travelers, listen up. your
of that smile. airport delays, the president will not divert spending cuts to nonessentials, won't do it. tax refunds to people who didn't pay a dime in the first place. the irs overpaid to the tune of 13 billion dollars. 6 million free cell phones for the poor, not enough. the administration wants to extend the program to high speed internet. and the internet sales tax passes the senate. so, you, sit on the tarmac, game the tax system and get your free internet and let's find something else to tax. "varney & company" about to begin. > >> any politician gets 70 million votes is larger than you and me as much as i hate to admit. it look at the winning smile and trusting eyes and i made myself vital, after 22 years in congress, i can smell which way the wind is blowing. stuart: kevin spacey, we show you that clip why "house of cards" a hit show only showing on netflix and that's why the stock will soar from the opening bell. look at it up nearly 25% pre-market and offered a month free with "house of cards" as the bait and people liked it, big jump in subscribers, almost as many pay for netflix
sense. the president's strategy is he wants the taxes increased. we are not willing to do that. these big cities, chicago, atlanta, those airports will feel the impact economically. people around the country will be weighing in. we looking at legislation to push this issue. there is 47,000 employees. there are 15,000 controllers. also, when you look at what they are and, waterloo, iowa, it is treated the same way as chicago. this does not make sense. lori: you are exactly right. i meant to say looking for a tax increase. here is the dead -- devils advocate. it will actually lay off workers >> that for morale. this is bad for the safety. the airline industry, whether it is cargo or passengers, contributes a trillion dollars to the economy. this is very bad. again, they have the authority to be flexible. if the economy continues to move, the safety is intact. lori: they may postpone these for those 30 days. do you think that is a viable solution? >> they have that flexibility. they think they will get us back to the table to have an increased tax on the american people. that will
this intentionally. they want to make sure that we see a situation. if we don't raise taxes we will be in trouble. we don't have to do this. we did not have to leave these people often there is no financial reason for it. let's not make excuses. it is just plain bad management of the way around. gerri: and, of course, it to you. breaking news this afternoon about a lawsuit filed by the industry. the judge in that case did not grant an emergency stay to block furloughs. are you surprised? >> i am a little surprised. obviously a lot of legal opinions that says the faa can actually switch funds around to make this, but i do think it will take but the administration and congress to come together to solve this problem. the faa should delay the cuts that congress should clear up the authority to switch around of funds. it will take both bodies to prioritize this is a problem so we don't have travelers waiting in airports. should have never gone to this point in the first place. gerri: no. so many things congress and the president could have done, work together, but, as we know, they'd all like to. thank yo
to president obama's budget and take a look at this statistic. 86% of tax increases will fall on people making $200,000 a year or more in 2015. this according to the new study by the tax policy center. what to make of this? joining us is the senior political analyst for the washington examiner. michael, good to see you. i'm more interested in the fact that earners nearly every income level will bear some sort of tax increase in this which flies in the face behalf president obama promised years ago. >> when president obama was running for his first term, he said he wasn't going to raise taxes on ordinary people. that's actually been violated in a number of ways, including in the obama care law and early increase in the cigarette tax that tends to hit down scale people more often than it hits upscale people. but in the second term, he's putting in his budget these proposals to change, as i understand it, the c.p.i. that means that your bracket increases will go into effect earlier. people will be thrust into higher tax brackets and so-called buffett tax which amounts to a sort of revival of the
, by the way, talk of an online sales tax. harry reid is suggesting there's a vote on an online sales tax next week. ebay's way down on that. it's own growth forecast as well as the interpret sales tax possibility. ibay's down three bucks, what do you have to add on that? >> i have to add the european story that the chief financial officer of ebay saying the european economy is weaker, weaker british pounds to dense paypal results. put that together, it's a loser. >> it is, big stock, big drop. thanks nicole. to hoyer, the to littization of the boston bombing linking them to the sequester cuts. here's a question a fox news producer asked mr. hoyer. i'm quoting directly. do you think this can help to make an argument to turn off the sequester? here's the congressman's response, well, i think there are compelling arguments to not have turned on the sequester and multiple reasons for investing in our security and don't pursue across the board irrational cutting priorities and buy the same percentage. i think this is another proof of that. if proof is needed, which i don't think, frankly, it is. t
to manufacturer boxcar on. lori: tax-free online shopping could be numbered. melissa: take another look at metals as we head out to break. copper trading lower. we will be right back. ♪ thank you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by cnging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. [ lighter flicking ] [ male announcer ] you've reached the age where giving up isn't who you are. ♪ this is the age of knowing how to make things happen. so, why let erectile dysfsfunction get in your wa? talk to your doctor about viagra. 20 million men already have. ask your doctor if your heart is healthy enough for sex. do not take viagra if you take nitrates for chest pain; it may cause an unsafe drop in blood pressure. side effects include headache, flushing, upset stomach, and abnormal vision. to avoid long-term injury
. how many pay taxes? we don't know. how many will pay taxes if they get jobs? how much will they pay in taxes? we don't know. what is the real cost of illegal immigration to the u.s.? the real cost? hohonest square, accounting? what is this answer. what are those illegal immigrants paying in taxes and providing in the way of services to others in this country, some are i imencely productive? what is the cost of the jobs they hold, is there no cost? is it true they only work in industries where americans don't top work. this that is find just give us an answer, do we as a nation make money? do we benefit? do we prosper because of illegal immigration. you hear everyone say we're a nation of immigrants, why don't they say a nation of illegal immigrants? the questions go on and on, is the path to citizenship appropriate? is it good or bad for the economy? it is good for american society. the real question becames after 10 years of debating this issue, why in the world don't we havv these answers? that's the big question. if you have been watching politics, and washington as long as i hav
director, douglas holtz-eakin. we could be hit with an individual security tax. he will explain when he joins tracy byrnes and adam shapiro the next hour of fox business. don't miss it. [ male announcer ] in your lifetime, you will lose 3 sets of keys 4 cell phones 7 socks and 6 weeks of sleep but one thing you don't want to lose is any more teeth. if you wear a partial, you are almost twice as likely to lose your supporting teeth. new poligrip and polident for partials 'seal and protect' helps minimize stress, which may damage supporting teeth, by stabilizing your partial. and 'clean and protect' kills odor-causing bacteria. care for your partial. help protect your natural teeth. care for your partial. if you've got it, you know how hard it can be to breathe and man, you know how that feels. copd includes emphysema and chronic bronchitis. spiriva is a once-daily inhaled copd maintenance treatment that helps open my obstructed airways for a full 24 hours. you know, spiriva helps me breathe easier. spiriva handihaler tiotropium bromide inhalation powder does not replace fast-acting inhal
is not growing and getting a little weaker with the higher taxes, but, you know, and i also like netflix. i like amazon. i like sales force. i like companies that they actually are creating demand because they're new leading edge products. yes they have a very high p-e. so does sales force. so does amazon. but they're generate, they at tracking new revenues from new businesses that didn't exist before. netflix is a great example. david: one. hits against apple right now, which you are recommending. and this is to michael. they haven't come out with a new product line. they have been sort of revising some old models. does that concern you? are you still for apple even though the new products don't seem to be anywhere to be seen? >> i would agree with you, in the past couple quarters we haven't seen anything compelling coming out. but i think that is going to change. i think we heard a lot about an i-watch. i think we heard about itv. we heard about a new ipad coming out. we'll get something not a complete makeover but a new iphone. i believe the product seitel will -- cycle will get much better n
in the basement, existing home sales disappoint in march. we're going to go behind the numbers. cheryl: more tax pain. congress finally ready to vote on the controversial on line sales tax plan but some business owners are furious. we're going to explain. dennis: and top dog stocks. why pet food is paying off for investors. let's look at oil. up a touch. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. cheryl: let's head back to the floor of the new york stock exchange with nicole. best story of the m
it deducted directly from their earnings through a withholding tax. david: okay. >> that would be easy way. david: come here with zero but with creative powers and eventually pay off. >> terrorist issue i think is an important one and of course we wouldn't change the rules on that. anybody coming into the united states would have to pass the same screens that they pass now as well. so, you're not going to just let someone come in here because they have $50,000 but you know, the same problems that plague us right now with people coming in for free wouldn't be any different under this system. you've got to do a good job of enforcement and you know our officials do a pretty good job of enforcement that wouldn't be solved or exacerbated by selling the slots. david: ed lazear, always thinking out of the box. great to see you, my friend. former chairman. council of economic advisors. >> thank you. david: great to see you, eds, thanks. >> thanks, david for having me. liz: this story has gotten bigger and bigger even though the markets were able to come back. first cbs, now the associated press an
: that underestimate the effect of the tax hikes? >> no doubt about it. we have been underweight a negative on the home building and consumer discretionary dough mess i canly levered sectors for a couple reasons. one we thought the market was underestimating the tax effect as you alluded to. the second piece was the market was understilting the fact that the mortgage credit channel remains impaired. you see that in bank earnings this week. all the disappointment on the banking side has come on the mortgage channel. david: why bank of america got hit so hard. >> bank of america, jpmorgan, wells fargo. in essence this is a function of freddie and fannie as well as the fha still mispricing mortgage credit risk. and, there are still being unresolved issues in the banking system about capital requirements for basal 3 and bank uncertainty. david: what about what we still have. you advise getting into bond-like stocks . what do you mean by that? >> well, in essence we've had this outperformance of the more defensive sectors but it is not so much that they're defensive. we're talking about stable cash flows, s
%-from boston. the irs says boston taxpayers will be granted extensions on their tax returns. every little bit helps. that is my "2 cents more." a great night and we will see rebecca tomorrow evening. ♪ lou: lou: good evening and thank you for being with us. details tonight emerging about yesterday's horrific terrorist attack and the boston marathon. the two explosions on boils some street wounded 176 by standards. three people killed. martin richard lost his life in the explosion that also left his brother and sister critically wounded. waiting by the finish line to hug his father and to congratulate him for finishing a marathon. 29-year-old crystal campbell also killed in the attack after adding to the finish line to take a picture of a friend was completing the race. the third victim has now been identified as a graduate student from boston university, but her name has not been released pending notification of next of kin. seventeen other victims tonight remain in critical condition. some have lost limbs or arms, many have suffered severe injuries to their legs. doctors operate
. it lets bmw avoid painful 100% tax that india imposes on if finished cars into the country. that's latest from the fox business network, giving you the power to prosper david: well apple's stock fell to a 1-year low today as word came of delays in production of new products including the iphone 5 s and mini ipad ii. one of those reports about delays came from jeffries and company managing director peter misek. he came from apple's asian manufacturing centers. peter, joins us on the phone. peter, what do you think of the market reaction. do you think they overreacted to the your report? >> i don't think it was our report that drove it alone. our report came out yesterday and market digested it easily. i think it had a lot to do with confirmation that there was a slowdown in production. cirrus logic report worse than expected and guided down materially versus street expectations. we had industry publications out of asia talking about declines in ipad mini production of 20 to 30%. all triangulating on the same data which there is slowdown in apple's production. david: peter, you were actuall
to you? >> well, i mean, so much for disgruntled tax filers irresponsible for your will attack. you know, this opens a single to all sorts of investigations. right now obviously there is a major effort not just ride on the ground in the immediate boston regional area, but now you are looking at the jets' new head, you're looking at the extent to which this was deployed from the outside. and to the extent to which there are supports or a support structure internally your that allow for this attack to take place. connell: two brothers are less to be a part of this, one that was killed and the other that is said to be 19 years old and still at large. you mentioned their background, the fact that there are originally from chechnya. they came here, we think, in 2002 and three, some are in an area. is it possible that they just acted alone? working together as brothers? is it more likely from your experience of the years that they did have some support from the outside, or read my be. >> you know, is suspect gillette to let this point, but if i had to put my chest down on a table i was a it wa
higher taxes and the cuts. beige book quotes some firms in some districts quoted higher gasoline prices and expiration of payroll tax cut and winter weather as factors constraining sales and. numerous districts reported uncertainty or weakness in certain military and defense related sectors. tracy: peter barnes, thank you very much. payroll tax, gas two things affect my wallet. adam: they're looking backwards. you have oil below $88 a barrel. tracy: i haven't felt that. adam: hopefully we'll feel it soon. tracy: we have stocks selling off, down about 19 points. the vix also known as the wall street fear index is soaring. let's head down to nicole petallides on the floor of the exchange. the vix will tell you what will happen 30 days from now, right? it is a gauge of the future. that means we're nervous about the future. >> that's exactly right. what it does it takes into account the volatility and fear in the market over the 30 days ahead for the s&p 500. that's exactly what we're seeing here today. we're seeing it at a level of 1 d. it was up over 24% earlier today. we're certainly see
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points go away and make it easy to do business with. you have to collect taxes and automate processes in a far quicker way to satisfy the needs of a modern economy but the big thing government has to do is stop spending money on things that don't matter. this matters. innovation matters don't do things that a clematis -- commodities vegas investment changes the game. liz: and the stock is up year over year but we watch this closely and oracle of the competitor up 11% so you are doing better. the closing bell rings in 70 minutes. talk about a splash, see world jumps more than 25 percent of the stock market debut. yes they launched the ipo date to doubt the negative news flow and went for a. entertainment joins us next so why was now the good time to go public?@ and as we told you the developing news this hour the boston red sox game against kansas city royals cancelled tonight. you are looking at a live shot of a very empty fenway park just a few miles away from a massive manhunt in watertown and cambridge and will remain empty tonight. no game and the bruins hockey game also canceled
jobs, but where you will see it is with higher taxes elsewhere, which will shed jobs. john: each green job cost $175,000 each per job? >> if you really want jobs, you can make an argument in a crisis to subsidize jobs in the short run. you can get many more jobs if you focused on infrastructure or hospitals or other things where you would create a lot of great benefits and more jobs. john: you dispute this using wind power to create the same amount as nuclear plants are you in need to cover the state of rhode island. >> wind turbines are much less efficient partly because they take up a lot of space. john: and they're more efficient than the solar. >> they only work about one fourth of the time. you have to build a lot of backup power. the fuel is free, so potentially we could get to a situation where we are beneficial. but we are not there yet. john: but we are spending like we are. >> a lot of people, global warming, we have to do something now. actually global warming, we have to find smart ways to make sure we can get everybody on board, not just rich, but we can find technology th
. they are more worried about the impact on the economy and payroll taxes january 1. connell: let's bring just jeff and from raymond james. let's follow up on what peter is reporting on and the financial markets both yesterday and today. even without what happened in boston yesterday was setting up to be a remarkable day. stocks were down. gold was selling off. there were further jitters after what happened in the afternoon, obviously. >> it reminded me very much of the hunt silver corner. when it finally, when the fever finally broke on october 7, excuse me, january 7 of 1980, you had a hard move on silver just like you did on gold on friday. they try to hold the markets together. the margin calls went out. people had to start selling their commodity positions. i do not know if they play that way here or not, but it has had a heart attack on the market and heart attack patients do not get right off the gurney and run a 100-yard. connell: if it bounces back up, is it in your view over at this point and the second part, what, if any, to the impacts of the bombing have? >> the bombings in boston
it iwith higher taxes elsewhere, which will shed jobs. john: each green job cost $175,000 each per job? >> if you really want jobs, you can make an argument in a crisis toubsidize jobs in the short run. you can get many more jobs if you focused on infrastructe or hospitals or other things where you would create a lot of great benefits and more jobs. john: you dispute this using wind power tcreate the same amount as nuclear plants are you in need to cover the state of rhode island. >> wind turbines are much less efficient partly because they take up a lot of space. john: and they're more efficient than the solar. >> they only work aboutne fourth of the time. you have to build a lot of backup power. the fuel is free, so potentially we couldet to a stuation where we are beneficial. but we are not there yet. john: but we are spending like we are. >> a lot of people, global warming, we have to do something now. actually global warng, we have to find smart ways to make sure we can get everybody on board, not just rich, but we can find technology that will be so cheap the chinese and the indi
to remember we have a lot of headwinds we're dealing with from the sequester, one, to the tax increase, at the payroll tax. so, these issues we have to get through. i don't think they're major but they are headwinds. now we've got a lot of people thinking about what happened last year. down 3% in the second quarter. people wanted to buy in the market started to dip. wait a minute. this may be more significant. the fact of matter, as he have yesterday, 7% of the companies that reported earnings beat estimates. whether the estimates were poor estimate, weak estimates. the fact of the matter as long as data remains relatively, weak, not strong, muddled through the fed will be a long way as way from ending its quantitative easing. the other thing we havv to pay attention to which i think gives us a lot of upside potential is that what's happening in japan is nothing less than significant. and we need to pay attention to the yen. tracy: so let's first finish with the united states because i know you are hot on the yen. you've talked about it last time you were here. that means based on what
, disability as a designated tax and i should know the number, 1.8% half on the employee, half on the employer. this is predicted decades ago and we're pretty much on course and what we've done in the past is we've borrowed between the disability and the old age trust fund. you can do that. we did that back in '82 when the old age fund was literally out of money for a period of time. that's not a longer term solution. i mean, we're going to have to figure out do you want more revenue, but again, i'm all for cracking down on fraud, i don't know anyone who isn't, but you don't want to have terminal cancer patients dying before he they get their disability. >> yes, sir, that's a given. dean baker, think very much. i'm sorry we're pressed for time and i've got to get the one update in for you about the bombing in boston. there were two and only two devices found. no additional threats have been received. no unexploded devices were found. okay. now this. the amount of u.s. debt owned by foreigners is at a record level and the chinese own the biggest chunk. liz macdonald, charles payne, they're here
Search Results 0 to 26 of about 27 (some duplicates have been removed)